FMC Technologies’ (FTI) “Reduce” Rating Reiterated at HSBC Holdings PLC

FMC Technologies, Inc. (NYSE:FTI)‘s stock had its “reduce” rating reiterated by HSBC Holdings PLC in a report released on Wednesday, Marketbeat reports. They presently have a $26.00 price objective on the oil and gas company’s stock. HSBC Holdings PLC’s target price suggests a potential downside of 4.27% from the company’s previous close.

Several other equities analysts also recently commented on the company. Barclays PLC dropped their target price on FMC Technologies from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. ValuEngine downgraded FMC Technologies from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Royal Bank Of Canada upgraded FMC Technologies from a “sector perform” rating to an “outperform” rating and set a $37.00 target price for the company in a research report on Friday, August 25th. started coverage on FMC Technologies in a research report on Monday, September 11th. They issued a “hold” rating and a $26.00 target price for the company. Finally, Gabelli upgraded FMC Technologies from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Friday, October 20th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $33.61.

FMC Technologies (NYSE:FTI) traded down $1.24 during trading hours on Wednesday, reaching $27.16. The company had a trading volume of 3,427,900 shares, compared to its average volume of 4,134,114. The firm has a market capitalization of $13,251.21, a price-to-earnings ratio of 22.72, a PEG ratio of 0.93 and a beta of 0.89. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. FMC Technologies has a fifty-two week low of $24.53 and a fifty-two week high of $37.09.

FMC Technologies (NYSE:FTI) last released its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.07). The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.87 billion. The firm’s quarterly revenue was up 74.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. sell-side analysts anticipate that FMC Technologies will post 1.61 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new stake in FMC Technologies in the third quarter valued at approximately $45,311,000. Bank of Nova Scotia Trust Co. acquired a new stake in FMC Technologies in the third quarter valued at approximately $192,000. Jane Street Group LLC acquired a new stake in FMC Technologies in the third quarter valued at approximately $509,000. Vident Investment Advisory LLC grew its stake in FMC Technologies by 74.4% in the third quarter. Vident Investment Advisory LLC now owns 484,271 shares of the oil and gas company’s stock valued at $13,520,000 after acquiring an additional 206,638 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in FMC Technologies in the third quarter valued at approximately $223,000. 66.88% of the stock is owned by hedge funds and other institutional investors.

FMC Technologies Company Profile

FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.

Analyst Recommendations for FMC Technologies (NYSE:FTI)

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